Real estate & property
Real estate
Khaitan & Co partner Siddharth Shah has been included on the Bombay Stock Exchange’s (BSE) advisory group on real estate investment trusts (REIT) alongside 10 representatives of various banks, real estate and financial services companies, according to the PTI.
REITs are aimed at attracting long-term funds to the cash-strapped realty sector from both foreign as well as domestic investors.
It is hoped that after the newly announced budget’s exemption from capital gains tax to popularise REITs, they will bring in around $10bn of foreign funds into the realty sector by the end of this fiscal.
Real estate
Luthra & Luthra advised Max India’s year-old subsidiary arm Antara Senior Living in setting up a Dehradun-based living community for senior citizens.
Real estate
Exclusive: Amarchand Mangaldas and Phoenix Legal have advised on private equity firm India Property Fund’s buyout of 49 per cent stake in developers Ramprastha Group’s housing project Skyz for Rs 120 crore.
Real estate
Crawford Bayley & Co has advised Clariant Chemicals on Rs 240 crore ($53m) real estate transaction involving the sale of its Mumbai-suburban factory premises to Kalpataru Builders-owned Ananta Landmarks, which hired Mumbai law firm Federal & Rashmikant as legal counsels.
Real estate
Khaitan & Co and Kanga & Co have assisted on the sale of more than 74,000 square metres of industrial real estate in Andheri East, Mumbai from Borosil Glass Works to Neepa Real Estate Private Limited for Rs 830 crore ($178m).
Real estate Crawford Bayley sold 350,000 square foot of client Bombay Dyeing and Manufacturing Company (BDMC)'s real estate complex in Parel to Khaitan & Co client Axis Bank for around $170m.
Real estate
Khaitan & Co and Wadhwa Group's in-house counsel have closed Mumbai's largest land deal of the year, in the 18.18-acre land purchase in the eastern suburbs of Mumbai from Hindustan Composites (HCL) for Rs 571 crore ($125m).